Question
Prepare Journal, Ledger, Trial Balance, Profit and Loss A/c, Balance Sheet in MS Excel and upload in AmpEducator Your name is Owner Name. 1
Prepare Journal, Ledger, Trial Balance, Profit and Loss A/c, Balance Sheet in MS Excel and upload in AmpEducator Your name is Owner Name. 1 You started business with cash worth $12000. 2 Deposited $7500 cash into Scotia Bank. 3. Commission is paid $250 by cash 4.Rent of building paid by cash $1200 5. Received $6000 cash as service revenue 6 Laptop is purchased of $ 500 and payment is made by cheque 7. Advertisement Expenses are paid by cheque $320 & Long term loan $2500 is taken from scotia bank 9. Bought Furniture on Credit from IKEA $ 1000 10. short term loan from friend Ms. Meera Cash $1100 Calculate: Current Ratio, Debt to Total Assets ratio, Debt to Equity Ratio for financial Analysis. Auto Format 10 Marks Trial Balance 10 Marks Net Profit 15 Marks Total of Assets side - 10 Marks Total of Liability Side 10 Marks Current Ratio 5 Marks Debt to Total Assets Ratio 5 Marks Debt to Equity Ratio Total = 5 Marks 70 Marks
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started